Record Plc invests in World Bank Development Bonds
“We are delighted to be a part of this innovative and promising project,” said Managing Director Leslie Hill.
Record PLC (LSE: REC) announced that its Sustainable Finance Fund for Emerging Markets, launched this year in collaboration with UBS, is the sole investor in the latest sustainability bond transaction issued by the World Bank, in Georgia .
The World Bank has issued a 2-year Georgian Lari 31 million sustainability bond, equivalent to US $ 10 million, in support of an advocacy program for road and transport safety in the country.
“We are delighted to be part of this innovative and promising project, which will see the World Bank commit to the advancement of developing countries on a number of important themes, such as road safety and improving local currency markets, ”said the managing director. Leslie Hill.
“This transaction is part of Record’s strategy to develop and diversify our skills, our technical expertise and our growing network in the field of derivatives and sustainable development. “
Ruurd Brouwer, Managing Director of TCX Fund, a foreign exchange fund involved in financing, added: “We are delighted to see Record EM Sustainable Finance Fund sustainably invest in pioneer currencies and finance investment projects in countries in development.
“Global sustainability can be greatly advanced if private investors take the risk and market return that emerging market borrowers cannot and should not take.
“TCX will continue to play a leading role in reducing the risk of investing in developing countries and will create markets by mobilizing private investors who seek the effect of risk, return and diversification. “
The note was arranged by Bank of America (NYSE: BAC) -Merrill Lynch and the exposure to Georgian Lari ultimately came from TCX-the foreign exchange fund, Record noted.